US business solutions maker NetSol Technologies has agreed to form a software and IT joint venture in Saudi Arabia and the Middle East with Saudi Arabian Atheeb Group, the company said on Wewdnesday. The new company, Atheeb NetSol, will deal with software engineering in strategic sectors like telecomms, defence and finance. Atheeb NetSol will be 50.1 percent owned by NetSol and 49.9 percent by Atheeb. NetSol will provide practices and comprehensive delivery capabilities for software engineering, research and development, as well as customer support and training. Atheeb is a major diversified group with nearly 10,000 staff.